Smart Ways Your Business Can Benefit From Online Auctions

It seems as if everyone is talking about online auctions. And why not. There are thousands of online auctions on the internet with more popping up everyday. People love them because they can usually find great bargains. Businesses are now also seeing the benefits of online auctions. Below are five ways your business can benefit from online auctions.

1. Get Rid Of Excess Inventory

You could sell your excess or discontinued products at an online auction. Your unsold inventory is doing you no good sitting around, collecting dust. It's an effective way to make extra income and it won't be a total loss for your business. You could even get lucky and make a profit depending on how much people will bid for your excess inventory.

2. Test Pricing For New Products

An easy way to test new product prices is to see what people will bid for them at an online auction. First, sell your product at three different online auctions. Next, calculate the average selling bid from all three auctions and that will be your selling price for your new product.

3. Sell Your Products

You can get your product in front of a large audience by selling it at an online auction. Some of the bigger auction sites draw over millions of hits a year. The key to being successful is to sell your product at multiple online auctions at the same time. Let's say you sold one product a day from just one auction site. If you sell your product at one hundred online auction sites that would be one hundred sales a day!

4. Start Your Own Online Auction

Drive traffic to your web site by starting your own online auction. People will visit your web site to find bargains and to sell their own products. You will get plenty of repeat visitors from people rebidding on products and adding new products to sell. You could also charge other businesses to advertise on your web site.

5. Lower Your Business Costs

You can find lower prices on business supplies and equipment at online auctions. I'm not saying all the time, but before you go pay retail for a new printer try bidding on one first. A company may be selling them at a lower price at an online auction because they have excess inventory.

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Julia Tang publishes "Smart Online Business Tips", a fresh
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Rare Books &c. at Auction This Week  Fine Books & Collections MagazineALDE will sell 224 lots from the library of Jacques Attali on Tuesday, June 25. Some excellent philosophical and literary editions to be had, including ...
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This French-Inspired Mansion In Dallas Will Be Sold At Auction With No Reserve  ForbesA French-Inspired mansion in the Preston Hollow neighborhood of Dallas Texas will be sold at auction by Elite Auctions with no reserve on July 20 2019.
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Auction of Treasury Bills on 27 June 2019 Copenhagen Stock Exchange:DKSTAT  GlobeNewswireThe treasury bills for sale have the following stock exchange codes: Name, Stock exchange code, Maturity. SKBV 19 / III, 98-17108, 3 September 2019. SKBV 19 ...
Hermès Birkin rakes in over $2 mn at auction to become second most expensive handbag  Economic TimesThe title for the most expensive bag is also held by Hermes.
The Western world’s auction-house duopoly is now in private hands  The EconomistFOR THE 0.1%, building a legacy long involved amassing million-dollar artworks and bankrolling those who create them. Today billionaires also buy auction ...
Artist auctions off a virus-ridden laptop for $1 million  MashableThe piece, by artist Guo O Dong, is titled "The Persistence of Chaos," and the name is apt because the laptop could wreak some serious havoc.
Beacon Hill property expected to sell via auction  Cody EnterpriseMuch of the Cody School District's property on Beacon Hill is set to be auctioned off to the highest bidder.
EU approves Italy's auction scheme for renewables  pv magazine InternationalThe €5.4 billion program is expected to spur new growth in large scale PV while also providing incentives for rooftop systems. Originally scheduled for January, ...
Obama’s #23 Punahou basketball jersey soon to be up for auction  Hawaii News NowHONOLULU, Hawaii (HawaiiNewsNow) -A Punahou basketball jersey worn by Former President Obama will soon hit the auction block. The number 23 jersey ...
Oregon Ranch With Own Airstrip in a National Forest Heads to Auction  Mansion GlobalKnown as Illahee Ranch, the estate spans more than 77 acres in the middle of the Umpqua National Forest and will be going under the hammer live at the ranch ...
Stack's Bowers to Showcase the Famous 1894-S Dime at ANA World's Fair of Money Auction  CoinWeekOf all great American coin rarities, the 1894-S dime stands high in the front rank. The appearance of one in the marketplace is always a cause for.
UK gilt prices fall after weak demand at auction  NasdaqLONDON, June 25- British government bond prices fell on Tuesday after the weakest demand at a gilt auction since late 2018.. The Debt Management.
Hundreds of items abandoned in state treasurer’s office vault soon up for auction  KFOR Oklahoma CityOKLAHOMA CITY – Hundreds of valuable items abandoned in the Oklahoma State Treasurer's office vault will soon be up for auction. "It's kind of a historical ...
The racehorse auction in Prince William's garden where millions change hands  The Guardian'It's called the sport of kings for a reason,' says head of Goffs, which runs the unusual sale before Ascot.
RM Auctions has Toyota Land Cruiser leftovers at the spring Auburn auction - Autoblog  AutoblogThree Toyota Land Cruiser SUVs are still available from the recent RM Auctions Auburn event. They include gas, diesel, manual, automatic, two-door and ...
German Coins & Medals Highlight Künker Auctions  CoinWeekBy Künker GmbH ...... Dear Bidders and Coin Enthusiasts, As always, German coins and medals make up a large portion of our auctioned pieces. Once.
Coal India e-auction fetches 44% higher prices  Economic TimesIn 2018-19, the state-run miner got premiums of 58-92% in forward and spot markets over the notified price and the average price per tonne of coal hit Rs 2653 ...
Top 10 business headlines: DHFL crisis, Budget 2019, 5G auction, and more  Business StandardDHFL lenders to meet in early July to hammer out a rescue package. Lenders to beleaguered Dewan Housing Finance Corporation (DHFL) will meet in the first ...
10 most expensive cars sold at auction  Autocar IndiaThink a Bugatti Chiron is expensive? Wait till you read about the most expensive cars to be sold at auction. Click for details.
How Auction Houses Are Using Supreme to Maintain Relevancy  HYPEBEASTThe world of auction houses is undergoing a shift. Typically associated with stuffy oak-laden rooms and octogenarian men, they're now embracing a new type of ...
NCLAT dismisses customs dept plea to auction goods of a firm under moratorium period  MoneycontrolThe National Company Law Appellate Tribunal (NCLAT) has dismissed a petition of customs authority seeking auction of confined goods of a company, which is ...
Assets Of Canadian Textile Plant Up For Bid At Auction  Yahoo FinanceMONTREAL , June 25, 2019 /PRNewswire/ -- Tiger Group and International Textile Machinery Sales will begin accepting offers on July 10 for an online auction ...

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